BitcoinShort
Bitcoin (BTC/USD) Analysis – September 5, 2024
Bitcoin is currently trading within a downward channel at $56,551, with immediate resistance at $59,329. The 50-day EMA at $58,225 and RSI of 41 suggest bearish momentum. If BTC breaks below $55,573, the next supports are $54,000 and $52,138. Watch for a breakout above $57,445, which could change the trend to bullish. For now, the bias remains bearish under the $57,445 pivot.
Key Levels to Watch:
Trade Idea:
Bearish below $57,445; a breakout above this could trigger a bullish move.
Key Levels to Watch:
- Resistance: $59,329, $61,192
- Support: $55,573, $54,000
- Pivot Point: $57,445
Trade Idea:
Bearish below $57,445; a breakout above this could trigger a bullish move.
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.